Lic premium
This query is : Resolved
28 January 2013
dear sir
deposited of LIC premium treated as investment or not in balance sheet if yes
there is no option in investment there only in long term investment a coloumn
govt securities and in short term envestment shares, debantures etc.so please
advivice me tretment of deposited lic premium in b/s. thanks......
deposited of LIC premium treated as investment or not in balance sheet if yes
there is no option in investment there only in long term investment a coloumn
govt securities and in short term envestment shares, debantures etc.so please
advivice me tretment of deposited lic premium in b/s. thanks......
CA PARAS BAFNA
(Expert)
28 January 2013
You can debit the premium amount to Capital Account, in spite of showing in the balance sheet.
.
You can show it as Other Assets if want to show in the balance sheet.
.
.
You can show it as Other Assets if want to show in the balance sheet.
.
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